Exercises Set B E1-18. Use the fundamental accounting equation to find the missing element in each of the following: A-7 a. L - $4,200 OE-$7,100 A $18,000 b. L$6,000 OE 7 A-$21,000 6 L-$8,000 OE-7 A $7,500 d. 17 OE $4,000 A 7 e. L $5,800 OE $9,470 A $17,600 fL-7 OE - $12,000 The accounting equation (5 min) E1-28. Give an example of a business transaction that has each of the following effects on the accounting equation: 1. Increases an asset and increases a liability 2. Increases one asset and decreases another asset 3. Decreases an asset and decreases owner's equity 4. Decreases an asset and decreases a liability 5. Increases an asset and increases owner's equity Transactions in the accounting equation (10 min) E1-3B. Identify at least four main areas of accounting for accounting professionals. For each accounting area, identify at least three accounting-related opportunities in practice. Accounting definitions (10 min) Exercises Set A (Excel templates for all questions are available in MyLab Accounting. Working papers for select questions are available in the print Workbook.) E1-1A. Complete the following table Assets Liabilities + $19,000 Owner's Equity $4,000 b. $6,000 $9,000 $10,000 $4,000 The accounting equation (5 min) E1-2A. Indicate whether each of the following companies is primarily a service. merchandise, or manufacturing business. If you are unfamiliar with a company, research it online. 1. Century 21 2. ellay Inc. 3. WestJet Airlines 4. Walmart 5. Hudson's Bay Company 6. Purolator 7. Days Inn 8. The Dow Chemical Company 9. Fond Motor Company 10. Roots Canada Defining companies by activities (5 min) Many accounting professionals work in one of the fing Financial accounting b. Managerial anting 4. Other accounting related for each of the following regionalities, entity the area of accounting that most likely ives that responsiblity 1. Costing 4. Preparing financial statement 3. Accenting ti loveligting volations of tax law Reviewing cost data p Preparing tax re 10 Reviewing financial statements for lon